What is the process I can expect?
1.Complete the order form.
2.Receive your username, password and EIN.
3.Begin training to become a Home Based Agent while documents are filed with the state.
4.Receive completed documents and set-up business banking.
5.Begin Home Based Business!
What do I need to begin training?
You will need a company name in order for your EIN to be provided. (within 24 hrs.)
What is an Employer Identification Number (EIN) and why do I need one?
An EIN is a nine-digit identification number that all incorporated entities must obtain from the Internal Revenue Service. An EIN is required in order to apply for tax-exempt status, to obtain a business bank account and to file a company's taxes. An EIN is obtained by filing IRS Form SS-4 and it uniquely identifies every tax-paying entity in the United States. EINs are assigned by the Internal Revenue Service to organizations with paid employees and serves as the company's social security number. An organization may have one or several EINs, and an EIN may cover one or several locations.
What will this cost me?
$124.00 plus the applicable state filing fees will be your cost to incorporate and receive the prepared and filed articles of organization/incorporation in addition to your federal tax identification number (EIN).
Ready to Incorporate? Click Here to Begin
What is a registered agent and why do I need one?
It is required in all 50 states that any incorporated entities have and maintain a Registered Agent. A registered agent, by definition, is a person assigned by an entity to accept services of process and receive legal documents on behalf of the company. A registered agent must be located in the state in which you are incorporated, it cannot be a P.O. Box and it must maintain a physical address that is open during regular business hours.
Failure to maintain a Registered Agent can result in loss of corporate or LLC status. Equally important-if a responsible party is not available to receive service of process at all times, then your company could be unaware of a legal claim and a judgment may be entered against you.
It is not a good idea for businesses to serve as their own Registered Agent. Rather, the safest route is to select a reliable third party such as a service company. Using a service company as Registered Agent provides peace-of-mind for busy business owners by allowing the freedom to let business to take you out of the office. It also provides a layer of privacy, protecting you from being served with a legal proceeding in front of customers, clients, vendors or neighbors. Additionally, it allows you the freedom to change locations as your company grows, without filing costly changes of address with the state each time.
The Registered Agent serves a critical purpose and is an important part of protecting your corporate status and your company's future. It is important that small businesses select a highly reliable company to serve as their Registered Agent
How long will it take for my company to be filed and active with the state?
A typical turn around time for a non-expedited filing can be anywhere from 4 to 6 weeks and an expedited filing can be as quick as 24 to 48 hours in many states. Each state follows different guidelines for filing and therefore turn around times can vary.
How quickly can I get my Employer Identification Number (EIN) ?
Form-A-Corp® can have an EIN prepared and filed for your business within 24 hours of your order. This number is dependant on the company name that you choose being accepted by the state in which you are filing in. No one else is using that name or a name that is similar in text or phonetic spelling.
What entitiies are excepted by Home Based Agent companies?
Most Home-Based companies will accept either a corporation (INC) or a Limited Liability Company (LLC). As they both offer different advantages with regards to management and tax liabilities, it is important that you choose the best fit for you. For more information take our quiz or take advantage of our CPA consultation link available on our home page.
Are you still not sure in which direction to go? Please click here to get more information from a CPA in order to choose the best formation to fit your needs.
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Form-A-Corp is a registered service mark of FAC International, Inc. Copyright © 2008, FAC International, Inc. |